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Listed 2 months ago

1631 Eglinton Avenue W

Erin Mills, Mississauga

$1,490,000

Detached|Other
0 | 0 | 0
About this home

VERY RARE LAND OPPORTUNITY OVERLOOKING THE CREDIT RIVER. Take advantage of The City of Mississauga / Region of Peel and Provincial Government Development charge reductions and Deferral / Grant programs, Multi-residential tax charge reductions and the Ontario Government HST rebate program. Incredible opportunity to capitalize on multiple Municipal and Provincial programs. There is the opportunity to sever the lot, as well as the possible construction of a single, semi, triplex or fourplex residential/rental structure on the site, based on preliminary discussions with the City of Mississauga. Seller is willing to consider a 5 year Vendor Take Back mortgage and is open to proposals from Developers and Investors to build now or hold for later development. The site is surrounded by parks, trails, fishing, and easy access to shopping, transportation routes and schools. You can hear the Credit River running from your backyard !! The current 2-bedroom structure needs to be removed, thus the property is being sold "as is where is". Site is serviced and easily accessible for demolition and construction.

Extras

No extras listed.

TypeDetached
StyleOther
Approx. AgeNot available
Size700-1100 sq. ft.
Property Tax$9,315
Lot Size89.99 ft x 231.3 ft
mls© NumberW13467668
Listed ByROYAL LEPAGE ELITE REALTY

Listing History

  • No recent sale history for this listing.
  • No recent lease history for this listing.

Schools

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What the bank counts

This home's actual carrying costs, payment stress-tested at 6%

Mortgage, tested at 6%
$7,626
Property tax
$776
Heat allowance
$150
Housing costs
$8,553 / mo

Lenders cap these at 39% of gross income — that sets the number.

Down payment20% · $298,000
25-yr amortization

Income needed

$263,000

gross annual household income

Payment at 4%
$6,270 / mo
Cash down
$298,000

Assumes no other monthly debts · 25-yr amortization

Full affordability check

Investment Analysis

Estimated rent, cap rate and monthly cash flow for this property

Values and trends

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